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Betting Basics

ODDS

The most essential thing to understand in betting is ‘Odds’ - Odds show the potential payout on a bet.  A horse/team/player with ‘long’ odds is seen as less likely to win.   A favourite has ‘ short ’ odds. You could win more from the outsider at big odds but there’s less chance of it happening – just as the ‘sure thing’ at lower odds will reap lower returns.   Odds reflect probability and are expressed as numbers in the following formats:

  DECIMAL

This format is growing in popularity because of its simplicity. Odds start at 1.0 and increase as the event becomes more unlikely. eg: 1.05, 1.6, 2.8, 9.0, 40.0 . To know how much you could win, just multiply your STAKE by the ODDS. eg: a £5 bet at odds of 2.5 can give you a £12.50 return

  FRACTIONS

More traditional odds showing your stake against potential returns as a fraction. eg: a £3 bet at odds of 10/3 can give you a £10 return


BlueSquare
the UK bookmaker has helpful commentary on odds & other getting-started items.   There are other regional variations on odds, notably AMERICAN.


TYPES OF BET

SINGLES

Betting on one outcome only to occur. eg: Bet on Spain to win the World Cup 2006

  EACH WAY

The Bet is split into 2 parts (for double the stake). One part is a win bet. and the other covers the first 3 or 4 places (depending on the number of runners, and the bookie). This second part pays out at a quarter of the win odds.

DOUBLES

Betting on two events, both of which must win. Returns are greater because the odds are multiplied.

TREBLES

Can give even greater returns, but of course for more risk.

ACCUMULATOR

A four match (a term given to multiple bets, each dependent on the other winning) = Odds of 1.5, 2.2, 1.8, 4.0. A £10 bet would return £237.60 if all the matches came in.

COMPLEX BETS

Various bets can be placed which cover many combinations (see Sportingbet – info)

FIRST SCORER

and CORRECT SCORE are self-explanatory

 SCORECAST

Combines First Scorer AND Correct Score into one bet. Big returns if it comes in.

  OVER/UNDER

For example, whether a match will produce over or under a certain amount of goals – usually will it be less than 2.5 goals or more. If two defensive or two attacking teams are playing this bet is worth a look.

  IN-RUNNING

Refers to live events where the odds are constantly being updated. Bet365 offer a free £10 in-running bet for new accounts.

 SPECIALS

Specials vary widely and incorporate something other than the usual bets. Some bookies like to be known for their array of specials (see Bethawk home page for the best current offers.)

PROMOTIONS

FREE BET

Is always a popular promo. Sometimes there are conditions on the bet, eg. It must be on the FA Cup ( Canbet ) – these are generally too good to turn down

CASHBACK

Offers you back a % of the money you spend on your first bet, eg. Sportingbet

BONUS

Rewards are added to your returns if a certain event happens, eg. £15 for every England goal was a recent promo at BetHilo

There are also other methods of gambling;

 SPREAD BETTING

See our article here

BETTING EXCHANGES

See our article here

ASIAN HANDICAP

PremierBet are the leaders in this form of Soccer betting find out more here.

 

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